Credit Suisse has initiated another wave of job cuts in London. The trading floor and IT are among the units affected by the cost-cutting measures.

Credit Suisse (CS) has released several employees in London as it aims to keep its cost-cutting targets. The job cuts were initiated on Tuesday and affected some 130 employees, the «Business Insider» reported.

Of those, about 80 worked in fixed income and the remainder in equities, according to insiders.

The Total This Week: 180

A further 50 employees will also be released, «Bloomberg» reported separately, bringing the total to about 180 this week. The cuts will affect support functions in IT and human resources. A further round of job cuts is expected for next month.

CS declined to comment the reports.

Still to Go: 3,200

CS CEO Tidjane Thiam had announced further sweeping cost cuts following the disappointing result in 2015. Instead of the initially announced cuts of 4,000 jobs, the bank will now cull a total of 6,000 this year. A total of 2,800 layoffs had been initiated by March 23.

Credit Suisse will present figures for the first quarter on May 10.